Immunefi launches scoring system for Web3’s elite white hats
Bug bounty platform Immunefi has launched its Whitehat Leaderboard — a scoring system that showcases the highest 20 most elite white hats in Web3. The rank will measure a given white hat’s abilities and standing amid Immunefi’s safety group, mentioned the corporate on the Internet Summit on Nov 4.
A white hat hacker is somebody who identifies safety vulnerabilities by testing a corporation’s data know-how safety. In Immunefi’s group, the highest 10 white hats alone have generated over $42 million in whole earnings by disclosing crucial vulnerabilities which have led to huge bounty funds within the software program trade.
Within the leaderboard, white hats might be every day labeled by the quantity and severity of paid studies, in addition to whole earnings made. The hackers in Immunefi’s group critiques initiatives’ blockchain and good contract code, disclosing vulnerabilities and being paid for it. The rewards are based mostly on the severity of the vulnerability found.
Mitchell Amador, founder and CEO at Immunefi, famous in a press release:
“As the quantity of saved funds continues to develop, the leaderboard is one other alternative to provide our white hats the popularity they deserve, in addition to to encourage them to maintain pushing the boundaries to make the web3 ecosystem safer.”
Associated: Staff Finance hacker returns $7M to related initiatives after exploit
Based on the corporate, white hats who rank on the leaderboard will even be chosen to earn additional rewards, all-expenses-paid journeys, unique merch, and talking alternatives regularly. Created in 2020, Immunefi claimed to have saved over $25 billion in consumer funds and paid out over $62 million in bounties. The platform at the moment helps 300 initiatives throughout a number of crypto sectors, serving to the trade gamers save funds saved in good contracts.
Amid the highest bounties paid for white hats prior to now two years, Immunefi facilitated cost for the invention of a crucial bug within the Wormhole core bridge contract on Ethereum, which led to the record-breaking bug bounty of $10 million for a white hat recognized as satya0x, in addition to the crucial infinite spend bug present in Aurora Engine with a $6 million payout for white hat pwning.eth.
Safety vulnerabilities had been among the many challenges within the crypto trade this yr. On Oct. 11, a hacker manipulated the worth of the Mango Markets’s native token, MNGO, to attain increased costs. The attacker took out vital loans in opposition to the inflated collateral, draining Mango’s treasury. After a proposal on Mango’s governance discussion board was permitted, the hacker was allowed to maintain $47 million as a “bug bounty,” whereas $67 million was despatched again to the treasury.
